Corporate governance advocates have given a broad thumbs-up to the government's proposals for tackling runaway pay at the top of UK companies, which were published in detail today.

Martin Gilbert, the chief executive of Aberdeen Asset Management, said it was a "sensible review" that showed the government had listened to investors' concerns - and said "executives should not be rewarded for poor performance and they should be incentivised to think long-term with claw-backs in place if things go wrong."